Sell Analysis: XAU/USDGold reached the upper boundary of an ascending channel, signaling potential bearish pressure. The price reversed near resistance at $2,679 and is now targeting support levels at $2,652 and $2,643. A clear break below these levels could confirm further downside.
Fundamentals:
Gold is showing weakness as the U.S. dollar regains strength amidst renewed expectations of a hawkish Fed stance. Rising Treasury yields are also weighing on Gold’s appeal, as higher yields increase the opportunity cost of holding non-yielding assets like Gold.
